Can I retire at age 66 with 1,980,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$163,507$162,050$160,629$159,242$157,888$152,773
2 years$80,944$79,436$77,975$76,559$75,185$70,079
3 years$53,427$51,913$50,455$49,052$47,700$42,765
4 years$39,671$38,161$36,718$35,339$34,020$29,292
5 years$31,419$29,919$28,495$27,144$25,862$21,354
6 years$25,920$24,431$23,028$21,707$20,463$16,180
7 years$21,994$20,517$19,137$17,847$16,642$12,583
8 years$19,050$17,587$16,229$14,971$13,806$9,968
9 years$16,762$15,313$13,978$12,752$11,627$8,005
10 years$14,932$13,497$12,187$10,992$9,907$6,495
11 years$13,437$12,016$10,729$9,567$8,520$5,313
12 years$12,191$10,785$9,522$8,391$7,383$4,374
13 years$11,138$9,746$8,507$7,408$6,438$3,619
14 years$10,236$8,859$7,644$6,576$5,644$3,006
15 years$9,455$8,093$6,901$5,865$4,969$2,506
16 years$8,772$7,425$6,257$5,251$4,392$2,095
17 years$8,170$6,838$5,693$4,718$3,894$1,755
18 years$7,636$6,319$5,197$4,252$3,463$1,473
19 years$7,159$5,856$4,758$3,842$3,086$1,238
20 years$6,729$5,442$4,367$3,480$2,757$1,042
21 years$6,342$5,069$4,016$3,158$2,467$878
22 years$5,989$4,732$3,702$2,871$2,211$740
23 years$5,668$4,425$3,418$2,615$1,985$625
24 years$5,375$4,146$3,161$2,385$1,784$528
25 years$5,105$3,891$2,928$2,178$1,605$446
26 years$4,856$3,657$2,715$1,992$1,446$377
27 years$4,626$3,442$2,521$1,823$1,304$319
28 years$4,413$3,243$2,344$1,670$1,176$270
29 years$4,215$3,059$2,181$1,532$1,062$228
30 years$4,030$2,889$2,032$1,406$960$193
31 years$3,858$2,731$1,894$1,291$868$164
32 years$3,697$2,584$1,767$1,186$785$138
33 years$3,546$2,448$1,650$1,091$710$117
34 years$3,404$2,320$1,542$1,004$643$99
35 years$3,270$2,200$1,441$924$583$84
36 years$3,145$2,088$1,348$851$528$71
37 years$3,026$1,983$1,262$784$478$60
38 years$2,914$1,885$1,182$723$434$51
39 years$2,808$1,792$1,107$666$393$43
40 years$2,707$1,705$1,038$615$357$37
41 years$2,612$1,623$973$567$324$31
42 years$2,521$1,546$913$523$294$26
43 years$2,435$1,473$857$483$267$22
44 years$2,353$1,404$804$446$242$19
45 years$2,274$1,339$755$412$220$16
46 years$2,200$1,277$709$381$199$14
47 years$2,129$1,219$666$352$181$12
48 years$2,060$1,164$626$325$164$10
49 years$1,995$1,111$588$300$149$8
50 years$1,933$1,061$553$278$136$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,980,000, adding $6,713 every year, while hoping to spend $33,926 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 38/44/18 Blend
65$1,980,000$1,980,000$1,980,000$1,980,000
66$2,188,884$2,083,944$2,053,254$2,259,990
67$2,376,054$2,149,961$2,085,941$2,377,775
68$2,581,177$2,218,075$2,118,586$2,501,259
69$2,806,050$2,288,353$2,151,152$2,634,001
70$3,052,651$2,360,866$2,183,599$2,776,853
71$3,323,156$2,435,684$2,215,885$2,930,752
72$3,619,966$2,512,880$2,247,965$3,096,728
73$3,945,723$2,592,532$2,279,792$3,275,915
74$4,303,338$2,674,717$2,311,316$3,469,558
75$4,696,016$2,759,516$2,342,483$3,679,027
76$5,127,290$2,847,013$2,373,237$3,905,831
77$5,601,051$2,937,294$2,403,518$4,151,626
78$6,121,586$3,030,448$2,433,263$4,418,238
79$6,693,615$3,126,568$2,462,405$4,707,673
80$7,322,342$3,225,748$2,490,873$5,022,141
81$8,013,497$3,328,085$2,518,594$5,364,074
82$8,773,395$3,433,683$2,545,488$5,736,148
83$9,608,991$3,542,643$2,571,472$6,141,308
84$10,527,951$3,655,076$2,596,459$6,582,798
85$11,538,718$3,771,091$2,620,356$7,064,189
86$12,650,597$3,890,803$2,643,068$7,589,410
87$13,873,837$4,014,332$2,664,490$8,162,792
88$15,219,733$4,141,799$2,684,515$8,789,099
89$16,700,731$4,273,332$2,703,031$9,473,580
90$18,330,540$4,409,060$2,719,917$10,222,016
91$20,124,269$4,549,118$2,735,048$11,040,772
92$22,098,565$4,693,645$2,748,293$11,936,859
93$24,271,770$4,842,785$2,759,512$12,917,999
94$26,664,096$4,996,687$2,768,561$13,992,696
95$29,297,811$5,155,502$2,775,286$15,170,319
96$32,197,456$5,319,390$2,779,526$16,461,187
97$35,390,070$5,488,514$2,781,113$17,876,667
98$38,905,447$5,663,041$2,779,871$19,429,282
99$42,776,419$5,843,146$2,775,613$21,132,825
100$47,039,163$6,029,009$2,768,144$23,002,492